Thread: Financial Ombudsman response re. PPI

Hi

I am currently getting back on track to sort out several PPI claims. The advice I previously read was to initially go through the Financial Ombudsman.

My question is what responses have people had from the Ombudsman?

Have they been helpful in sorting out the claim?

Just thought it may be useful to know how helpful they are or not as the case may be.

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Originally Posted by too strong

Hi

I am currently getting back on track to sort out several PPI claims. The advice I previously read was to initially go through the Financial Ombudsman.

My question is what responses have people had from the Ombudsman?

Have they been helpful in sorting out the claim?

Just thought it may be useful to know how helpful they are or not as the case may be.

Hello,

I feel a few people have gone down the road to the fos. but it can be a lenghty wait.

Unfortuneately they will not be interested if the loan was pre 2003, this was before the Financial Services Authority came into place.

You can ask the FOS to investigate and if the outcome is not to your favour, you can proceed to court. but not the other way.

Originally Posted by wills7

I have been waiting since April for the fos to deal with mine - is it poss to take the court step before the FOS has dealt with or do you have to wait?

Hello wills,

I would think it would be advisable to wait to see what the FOS has to say and if it is not to your liking them court.

Hi wills,
Personally I would wait for the outcome from the fos, If you start court proceedings the FOS will be unable to continue looking into your complaint. Its a bit of a bummer but once legal action starts the FOS will drop your comlaint.

If you wait for the FOS outcome and it is not what you want or expect, then you can go down the court route.

Good Luck

Ian

Hi
I have taken both my Barclaycard claim and my Capital One claim through the fos.
FOS write to the companies involved first and only if the company and yourself cannot agree on a resolution, do the FOS then start an official investigation into the company.
Barclaycard have just offered me the full amount plus 8% interest on my claim which I have accepted. They offered this rather than have the FOS make an official investigation into them.
Capital One have offered me the amount of my claim but have not offered me the contractural interest I claimed, so I am going to refuse it and let the FOS do their investigation.
I went this route as a) its free and there are no court charges to pay upfront and b) if I am not happy with the FOS result, I still have the option to take it to court.
So far, I have no complaints about the FOS - it does take time, yes, but so will a court case. I made my initial complaints to FOS in July so all in all its taken around 3 months for Barclaycard to settle.
Good luck.
Lou